Liberate Cuts Losses in 1Q

Liberate Technologies reported a net loss for its fiscal first quarter ended Aug. 31 of $12.3 million, or $0.12 per share, versus $12.6 million ($0.12) in the year-ago period.

The current-year figure includes a charge of $4.4 million for excess facilities related to the company's former headquarters in San Carlos, Calif.

Revenue for the interactive-TV-software provider fell to $1.1 million from $1.5 million in the prior-year quarter.

"We continue to push ahead with our goals of restructuring the company and growing revenues," Liberate chairman and CEO David Lockwood said in a prepared statement. "We are pleased with the commitments to our technology that have been made by Cox [Communications Inc.], NTL [Inc.] and Telewest [Communications plc].”